Fuel sold on a quota basis due to junta’s foreign exchange policy

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Mawlamyine, April (20)

According to dealers, petrol outlets ran out of supplies on April 19 as a result of the military council’s foreign exchange policy, and were forced to sell on a quota system.

It is difficult to obtain foreign currency from the central bank, and paying in dollars for petrol is tough, and there was a lack of fuel at local gas stations.

Due to insufficient fuel stockpiles, gas stations were forced to sell in quotas of Ks 30,000 to 50,000.

“Foreign oil tankers were ready at Thilawa port, but it was difficult to buy fuel because we could not pay in dollars,” a trader said.



“20,000 tons of foreign oil ships were already in Thilawa before this Thingyan.You must deposit funds into their bank account. We can’t acquire oil since we haven’t made a deposit. We used to buy dollars for payment at market rates in the past. The government has stated that they will pay at a rate of Ks 1,850 kyats per dollar. However, they failed to do so, and as a result, this is happening. To put it frankly, the government is responsible for it,” one businessman stated.

Therefore, if the military council does not address the policy of selling dollars as soon as possible, some gas stations may be temporarily closed in the coming days, and gasoline prices could rise to record highs, according to fuel traders.

Because fuel was distributed on a quota basis, a driver reported he had to wait in line to acquire it.
He went on to say that, despite the high price of oil, buying as much as you want is not difficult. Taxi drivers, on the other hand, find it difficult to form such a queue.

Due to the difficulty in obtaining fuel oil from overseas ships, premium fuel costs Ks 2350, diesel costs Ks 2280, and petrol (95) costs Ks 2100 and (92) costs Ks 2000 per litre.

The military council said it was a misconception that a reduction in fuel storage could lead to a fuel shortage. Nearly 45 million gallons of gas and 70 million gallons of diesel are in stock in the country. And it said it was monitoring the country’s energy needs and energy security guarantees.

Following concerns among the public over fuel oil, some petrol stations announced that they would be selling petrol as usual on the evening of April 19.

News – Than Lwin Times

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